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Awards

Pedram Norton
Associate

Contact details

Pedram is an asset finance specialist with a particular focus on the shipping and offshore oil and gas sectors. He has over five years' experience acting for banks and owners in large-scale finance/leasing transactions and restructurings throughout Asia. Pedram is an associate in our market leading asset finance team in Singapore.

Profile

Services

Sectors

Pedram's experience covers a wide variety of asset finance and leasing transactions, advising financial institutions, corporations, private equity funds, ECAs, owners and operators on matters including pre/post-delivery financings, re-financings and restructurings and sale and leasebacks. He has also dealt with general sale and purchase transactions relating to new-build and second-hand vessels as well as offshore oil and gas assets.

Pedram regularly engages with matters spanning multiple jurisdictions and has experience in dealing with various international maritime/shipping authorities as well as correspondent counsel across different jurisdictions including, amongst others, Singapore, the United Kingdom, Thailand, Bermuda, Panama, the Marshall Islands, BVI, Cayman Islands, Liberia, India, Norway, Luxembourg, Malta, France, the Netherlands, Japan, China, Hong Kong, Korea, Malaysia, Myanmar, the Isle of Man, Cyprus and Saint Vincent and the Grenadines.

Pedram had previously worked in Stephenson Harwood's London office.

Ship and offshore finance

Restructuring and insolvency

Finance

Ship and offshore finance

Sale and leasebacks with financing

Acting for a well-known international bank with respect to the sale and leaseback with financing of six LPG gas carriers to a well-known shipping focused investment entity and six offshore support vessels involving various companies in the Bourbon offshore group.

Sale and leaseback with bridge loan facility for major Korean operator

Acting for the Hong Kong branch of an international bank in connection with operating lease transactions with a value in excess of US$200 million for companies within the Sinokor group. This was pre-funded by a bridge facility to fund pre-delivery instalments as part of a complicated resale structure which were escrowed until delivery.

ECA-backed financing

Acting for a syndicate of 3 European banks in loans covering 12 bulk carriers under construction, a number of which Loans are backed by a Sinosure credit policy, involving a novel cross-collateralisation structure devised by us for the transaction.

Pre and post-delivery financing

Acting for a syndicate of 5 international banks in the pre and post-delivery finance of eight bulk carriers for Berge Bulk for loans in excess of US$300 million.

Post-delivery financing with FOREX transactions pre-delivery

Acting for a syndicate of 3 European Banks in loans covering 7 LPG vessels under construction at Japanese yards for various Singapore companies owned by a BVI listed entity.

Post-delivery Financing with intercreditor agreement

Acting for the Singapore Branch of a German bank in the post-delivery financing with subordinated junior financing of one platform supply vessel owned by a Dutch company and guaranteed by an Indian company.

Restructuring and insolvency

Korean rehabilitation

Acted for a well-known German transport bank on various finances granted to various vessel owning companies operating under the Pan Ocean banner following the application by Pan Ocean for rehabilitation in the Korean courts. This involved complex issues requiring careful consideration resulting in the sale/taking back of certain vessels including a skid barge stationed in China.

Loan restructuring

Acting for the Singapore branch of a Norwegian headquartered bank on the restructuring of a US$270 million loan facility to four Hong Kong incorporated borrowers in respect of four capesize bulkers following termination of the underlying bareboat charters.

Malaysian scheme of arrangement

Acting for a shipping focused investment vehicle in the termination of various bareboat charters by a Malaysian operator terminating its container business, ship arrest and ultimate sale of the vessels.

Loan restructuring

Acting for a European bank on restructuring a loan facility made to a Singapore company which is a wholly owned subsidiary of a Thai listed entity (which also acts as guarantor). The original facility was advanced to finance the acquisition costs of three Singapore flagged bulk carriers and the restructuring involved, in addition to amending the repayment profile and LTV coverage, adding two further Singapore flagged bulk carriers as collateral security.

Finance

Corporate finance

Transfer of a bank's loan portfolio

Acting for the Singapore branch of a European bank in connection with the transfer of its shipping, offshore and energy loan portfolio involving the transfer of approximately US$6 billion of loans advanced pursuant to approximately 160 separate financings.

Container box financing

Acting for a German transport bank in connection with the financing of a number of container boxes for a leading container leasing company based in Hong Kong.

Shipping

ECA-backed financing

Acting for a syndicate of 3 European banks in loans covering 12 bulk carriers under construction, a number of which loans are backed by the Sinosure credit policy, involving a novel cross-collateralisation structure devised by us for the transaction.

Pre and post-delivery financing

Acting for a syndicate of 5 international banks in the pre and post-delivery finance of eight bulk carriers for Berge Bulk for loans in excess of US$300 million.

Sale and leaseback with bridge loan facility for major Korean operator

Acting for the Hong Kong branch of an international bank in connection with operating lease transactions with a value in excess of US$200 million for companies within the Sinokor group (a Korean company). This was pre-funded by a bridge facility to fund pre-delivery instalments as part of a complicated resale structure which were escrowed until delivery.

Offshore

Sale and leasebacks with financing

Acting for a well-known international bank with respect to the sale and leaseback with financing of six LPG gas carriers to a well-known shipping focused investment entity and six offshore support vessels involving various companies in the Bourbon offshore group.

Post-delivery financing with intercreditor agreement

Acting for the Singapore branch of a German bank in the post-delivery financing with subordinated junior financing of one platform supply vessel owned by a Dutch company and guaranteed by an Indian company.

Post-delivery financing with FOREX transactions pre-delivery

Acting for a syndicate of 3 European Banks in loans covering 7 LPG vessels under construction at Japanese yards for various Singapore companies owned by a BVI listed entity.

Semi-submersible drilling rig

Acting for the proposed owner of a semi-submersible drilling rig including its financing arrangements and the proposed time charter with a Thai stated owned oil and gas company.

Banks and banking

Corporate finance

Container box financing

Acting for a German transport bank in connection with the financing of a number of container boxes for a leading container leasing company based in Hong Kong.

Transfer of a bank's loan portfolio

Acting for the Singapore branch of a European bank in connection with the transfer of its shipping, offshore and energy loan portfolio involving the transfer of approximately US$6 billion of loans advanced pursuant to approximately 160 separate financings.